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PepsiCo Buys Bulgarian Nuts, Seeds Seller
Business | January 9, 2008, Wednesday // 00:00
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Beverage and snack maker PepsiCo said it has agreed the acquisition of Bulgaria's leading producer and seller of branded nuts and seeds Penelopa.
In a statement released late on Tuesday, Bulgarian time, PepsiCo said the acquisition was "consistent with our global focus on addressing consumers' growing interest in health and wellness."
Penelopa, founded 10 years ago by current owner Yanko Lolov, sells peanuts, sunflower seeds and other snacks throughout Bulgaria, principally through its dedicated national direct distribution system.
The company operates one plant, located in Sliven, and employs nearly 200 people.
"Penelopa is an outstanding company that will dramatically increase our presence in Bulgaria, a consumer market enjoying robust economic growth, as well as in the broader Balkans region," said Michael White, chief executive officer of PepsiCo International.
The terms of the agreement were not disclosed.
Currently PepsiCo snacks under the Lay's, Ruffles, Cheetos and Doritos brands are imported into Bulgaria from Romania, Greece and Turkey.
A variety of PepsiCo beverage brands also are available in Bulgaria, including: Pepsi, Pepsi Light, Pepsi Twist, Pepsi X, 7UP, Mirinda, Evervess, Mountain Dew and Gatorade.
In a statement released late on Tuesday, Bulgarian time, PepsiCo said the acquisition was "consistent with our global focus on addressing consumers' growing interest in health and wellness."
Penelopa, founded 10 years ago by current owner Yanko Lolov, sells peanuts, sunflower seeds and other snacks throughout Bulgaria, principally through its dedicated national direct distribution system.
The company operates one plant, located in Sliven, and employs nearly 200 people.
"Penelopa is an outstanding company that will dramatically increase our presence in Bulgaria, a consumer market enjoying robust economic growth, as well as in the broader Balkans region," said Michael White, chief executive officer of PepsiCo International.
The terms of the agreement were not disclosed.
Currently PepsiCo snacks under the Lay's, Ruffles, Cheetos and Doritos brands are imported into Bulgaria from Romania, Greece and Turkey.
A variety of PepsiCo beverage brands also are available in Bulgaria, including: Pepsi, Pepsi Light, Pepsi Twist, Pepsi X, 7UP, Mirinda, Evervess, Mountain Dew and Gatorade.
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